In Turkey, amendments to the law on citizenship were adopted, which expanded the list of persons eligible to become citizens of the country. The main purpose of the amendments was to attract foreign business and capital. With the lira falling, Ankara needs to replenish foreign exchange reserves to keep the economy afloat.

Major entrepreneurs who have invested at least half a million dollars or the equivalent amount in other foreign currencies in the Turkish economy can now apply for citizenship, and can confirm their investments with a document from the Ministry of Industry and Technology.

Large property owners will also be able to become Turkish citizens. To do this, they will need to provide a certificate from the Department of the Environment, Climate and Urbanization that they own real estate in the amount of $250,000 and sign a commitment not to sell their property for three years. Even those who have purchased real estate under construction, which is not yet completed, will be able to apply for citizenship.

Turkish citizens will be allowed to become entrepreneurs who officially employ at least 50 people. This fact will have to be confirmed by a document from the Ministry of Labor and Social Security.

Also, Turkish citizenship will become available to those who keep at least $500,000 or an equivalent amount in other foreign currencies in Turkish bank accounts. The term of the deposit must be at least three years.

In addition, buyers of government bonds in the amount of at least $500,000 and owners of shares in some Turkish companies for the same amount will be able to apply for citizenship.

A special commission was set up to oversee the implementation of the amendments to the citizenship law, consisting of representatives from the Ministry of Labor and Public Security, the Ministry of Environment, Climate and Urbanization, the Ministry of Finance, and the Ministry of Industry and Technology, reports the Daily Sabah.

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